Fave is expecting more Malaysians to use mobile payments in 2018.

In 2017, Fave recorded over 2 million app downloads and 8 million monthly mobile sessions, resulting in a 400% increase in the acceptance of FavePay as a payment option among its merchant base.

“FavePay presents a simplified and user-friendly mobile payment option. It bundles convenience, savings and rewards in a single app for consumers while providing merchants with a cost-saving mobile payment solution and an in-house loyalty program,” said Joel Neoh, Founder of Fave.

To date, Fave has partnered with over 10,000 merchant outlets and has expanded to Kuala Lumpur, Penang, Johor Bharu, Ipoh, Kuching, Kota Kinabalu, Singapore, Bandung, Surabaya, Bali and Jakarta. Since the launch of FavePay last April, the company’s gross merchandise volume (GMV) consistently doubled the following months.

“We want to provide businesses with a convenient way to easily accept payments, grow their business and at the same time, connect users with new Fave merchants. With that, we did not stop at offering a mobile payment option. We wanted to ensure that our merchants could understand their customers better, which is why we introduced FaveBiz. FaveBiz allows merchants to track real-time transactions and understand purchasing trends. In doing so, they are able to take note of their customers’ preference while also enhancing their rewards and loyalty programs to benefit their patrons,” added Joel.

Fave has seen fast growth among merchants such as Juice Works, llaollao, Unique Seafood Group of Restaurants, MBG Fruits, Serai Group, La Juiceria and Teppanyaki since launching the platform. As such, the company believes the continued rapid adoption of mobile payment in Malaysia will fuel Fave’s target of reaching RM1 billion in transactions and a merchant base of more than 100,000 in Southeast Asia.